Helping CMOs Quantify (and Shape) Customer Experiences is Key
This Stratecast report is designed primarily to speak to the needs of communications service providers (CSPs); specifically, to the CMO and others in sales & marketing; and to a lesser extent, a CSP’s product and support teams.
The report’s main conclusions and key takeaways are as follows:
1. It is open season in the communications services market. Over-the-top (OTT) service providers- those who provide voice, video, and other data services over the Internet- are the hunters; CSPs and their formerly protected services revenues are the prey. Consumers are increasingly using free-or-nearly-so voice and video services from these OTT services providers; and that is tearing the traditional CSP business model asunder.
2. Customer experience is on the rise as a competitive differentiator, with product and price receding. This creates opportunities for CSPs to survive, and perhaps even prosper, in the days ahead, by following a five-part OTT survival and growth guide established by Stratecast in this report. Four parts of the guide are summarized as follows:
- Engaging with their subscribers at key moments on the customer journey.
- Making peace with consumers over data collection practices and privacy by using data to make consumers’ lives easier and less marketing-cluttered.
- Engaging customers where they increasingly “live”: on social media.
- Building customer loyalty through effective loyalty programs that yield happier customers, reduce churn, and produce other, correlated business benefits.
3. The fifth part of the guide centers on a particularly innovative way for CSPs to use customer experience to their advantage: taking data on subscriber experiences with CSP services, and synergizing it with what those same subscribers are telling customer satisfaction ratings services. This helps CSPs better serve customers who are currently giving CSPs poor reviews; apply lessons learned to large groups of customers with similar characteristics to those who are talking to the ratings services; and more effectively market new services packages to these and other subscribers.
4. CSPs following portions of Stratecast’s five-part survival and growth guide are obtaining positive results; and Stratecast urges CSPs to gain full advantage by following all five.